Credit agents calling at odd times or using foul language are unacceptable, Reserve Bank of India (RBI) governor Shaktikanta Das said Friday.
Here’s your 5-point guide to what the RBI governor said:
“In the context of customer service, another area that is drawing the attention of the RBI is the harsh chargeback methods used by certain lenders, without adequate controls and controls over their recovery agents,” Mr Das said at a banking event.
“We have received complaints from customers who are approached by salvage companies at odd times, even after midnight. There are also complaints from salvage companies using abusive language. Such actions by salvors are unacceptable and pose a reputational risk to the financial entities themselves,” he said. said.
“We have taken serious notice of such cases and will not hesitate to take strict action in cases involving regulated entities. Such complaints against non-regulated entities will have to be filed with the appropriate law enforcement agencies,” Das said.
“RBI will take this issue seriously with regard to regulated entities, while if we receive complaints about unregulated entities, we will pass them on to law enforcement agencies. However, we will not hesitate to take strict action against such complaints,” said the RBI governor .
He added that “banks are sensitive to such actions and although they are taking action, every day is a new challenge, and we urge all lenders and banks to pay special attention to this area, as the customer interface under certain parameters must fall”.